CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) (UNAUDITED) - USD ($)
$ in Thousands |
Total |
Common Stock |
Additional Paid-In Capital |
Accumulated Deficit |
Accumulated Other Comprehensive Income (Loss) |
Series A Common stock |
Series A Common stock
Common Stock
|
Series B Common stock |
Series B Common stock
Common Stock
|
| Beginning balance (in shares) at Dec. 31, 2024 |
67,314,957
|
|
|
|
|
|
|
|
|
| Beginning balance at Dec. 31, 2024 |
$ 249,652
|
|
|
|
|
|
|
|
|
| Ending balance (in shares) at Mar. 31, 2025 |
67,314,957
|
|
|
|
|
|
|
|
|
| Ending balance at Mar. 31, 2025 |
$ 249,652
|
|
|
|
|
|
|
|
|
| Beginning balance (in shares) at Dec. 31, 2024 |
|
|
|
|
|
|
2,888,163
|
|
15,512,742
|
| Beginning balance at Dec. 31, 2024 |
(156,496)
|
|
$ 25,157
|
$ (181,731)
|
$ 76
|
|
$ 0
|
|
$ 2
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Issuance of Series A common stock from stock option exercises (in shares) |
|
1,101
|
|
|
|
|
|
|
|
| Issuance of Series A Common Stock from stock option exercises |
2
|
|
2
|
|
|
|
|
|
|
| Stock based compensation |
3,857
|
|
3,857
|
|
|
|
|
|
|
| Foreign currency translation adjustments |
8
|
|
|
|
8
|
|
|
|
|
| Net loss |
(12,870)
|
|
|
(12,870)
|
|
|
|
|
|
| Ending balance (in shares) at Mar. 31, 2025 |
|
|
|
|
|
|
2,889,264
|
|
15,512,742
|
| Ending balance at Mar. 31, 2025 |
$ (165,499)
|
|
29,016
|
(194,601)
|
84
|
|
$ 0
|
|
$ 2
|
| Beginning balance (in shares) at Dec. 31, 2024 |
67,314,957
|
|
|
|
|
|
|
|
|
| Beginning balance at Dec. 31, 2024 |
$ 249,652
|
|
|
|
|
|
|
|
|
| Ending balance (in shares) at Jun. 30, 2025 |
67,314,957
|
|
|
|
|
|
|
|
|
| Ending balance at Jun. 30, 2025 |
$ 249,652
|
|
|
|
|
|
|
|
|
| Beginning balance (in shares) at Dec. 31, 2024 |
|
|
|
|
|
|
2,888,163
|
|
15,512,742
|
| Beginning balance at Dec. 31, 2024 |
(156,496)
|
|
25,157
|
(181,731)
|
76
|
|
$ 0
|
|
$ 2
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Foreign currency translation adjustments |
(174)
|
|
|
|
|
|
|
|
|
| Net loss |
(23,439)
|
|
|
|
|
|
|
|
|
| Ending balance (in shares) at Jun. 30, 2025 |
|
|
|
|
|
|
2,893,241
|
|
15,512,742
|
| Ending balance at Jun. 30, 2025 |
$ (174,497)
|
|
30,769
|
(205,170)
|
(98)
|
|
$ 0
|
|
$ 2
|
| Beginning balance (in shares) at Mar. 31, 2025 |
67,314,957
|
|
|
|
|
|
|
|
|
| Beginning balance at Mar. 31, 2025 |
$ 249,652
|
|
|
|
|
|
|
|
|
| Ending balance (in shares) at Jun. 30, 2025 |
67,314,957
|
|
|
|
|
|
|
|
|
| Ending balance at Jun. 30, 2025 |
$ 249,652
|
|
|
|
|
|
|
|
|
| Beginning balance (in shares) at Mar. 31, 2025 |
|
|
|
|
|
|
2,889,264
|
|
15,512,742
|
| Beginning balance at Mar. 31, 2025 |
(165,499)
|
|
29,016
|
(194,601)
|
84
|
|
$ 0
|
|
$ 2
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Issuance of Series A common stock from stock option exercises (in shares) |
|
3,977
|
|
|
|
|
|
|
|
| Issuance of Series A Common Stock from stock option exercises |
4
|
|
4
|
|
|
|
|
|
|
| Stock based compensation |
1,749
|
|
1,749
|
|
|
|
|
|
|
| Foreign currency translation adjustments |
(182)
|
|
|
|
(182)
|
|
|
|
|
| Net loss |
(10,569)
|
|
|
(10,569)
|
|
|
|
|
|
| Ending balance (in shares) at Jun. 30, 2025 |
|
|
|
|
|
|
2,893,241
|
|
15,512,742
|
| Ending balance at Jun. 30, 2025 |
$ (174,497)
|
|
30,769
|
(205,170)
|
(98)
|
|
$ 0
|
|
$ 2
|
| Beginning balance (in shares) at Dec. 31, 2025 |
67,314,957
|
|
|
|
|
|
|
|
|
| Beginning balance at Dec. 31, 2025 |
$ 249,652
|
|
|
|
|
|
|
|
|
| Ending balance (in shares) at Mar. 31, 2026 |
67,314,957
|
|
|
|
|
|
|
|
|
| Ending balance at Mar. 31, 2026 |
$ 249,652
|
|
|
|
|
|
|
|
|
| Beginning balance (in shares) at Dec. 31, 2025 |
|
|
|
|
|
18,486,699
|
2,973,957
|
15,512,742
|
15,512,742
|
| Beginning balance at Dec. 31, 2025 |
(221,394)
|
|
34,625
|
(255,576)
|
(445)
|
|
$ 0
|
|
$ 2
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Issuance of Series A common stock from stock option exercises (in shares) |
|
|
|
|
|
|
107,308
|
|
|
| Issuance of Series A Common Stock from stock option exercises |
90
|
|
90
|
|
|
|
|
|
|
| Stock based compensation |
1,534
|
|
1,534
|
|
|
|
|
|
|
| Foreign currency translation adjustments |
(298)
|
|
|
|
(298)
|
|
|
|
|
| Net loss |
(8,575)
|
|
|
(8,575)
|
|
|
|
|
|
| Ending balance (in shares) at Mar. 31, 2026 |
|
|
|
|
|
|
3,081,265
|
|
15,512,742
|
| Ending balance at Mar. 31, 2026 |
$ (228,643)
|
|
36,249
|
(264,151)
|
(743)
|
|
$ 0
|
|
$ 2
|
| Beginning balance (in shares) at Dec. 31, 2025 |
67,314,957
|
|
|
|
|
|
|
|
|
| Beginning balance at Dec. 31, 2025 |
$ 249,652
|
|
|
|
|
|
|
|
|
| Ending balance (in shares) at Jun. 30, 2026 |
0
|
|
|
|
|
|
|
|
|
| Ending balance at Jun. 30, 2026 |
$ 0
|
|
|
|
|
|
|
|
|
| Beginning balance (in shares) at Dec. 31, 2025 |
|
|
|
|
|
18,486,699
|
2,973,957
|
15,512,742
|
15,512,742
|
| Beginning balance at Dec. 31, 2025 |
(221,394)
|
|
34,625
|
(255,576)
|
(445)
|
|
$ 0
|
|
$ 2
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Foreign currency translation adjustments |
(374)
|
|
|
|
|
|
|
|
|
| Net loss |
(19,916)
|
|
|
|
|
|
|
|
|
| Ending balance (in shares) at Jun. 30, 2026 |
|
|
|
|
|
91,510,501
|
91,510,501
|
15,512,742
|
15,512,742
|
| Ending balance at Jun. 30, 2026 |
$ 84,999
|
|
361,299
|
(275,492)
|
(819)
|
|
$ 9
|
|
$ 2
|
| Beginning balance (in shares) at Mar. 31, 2026 |
67,314,957
|
|
|
|
|
|
|
|
|
| Beginning balance at Mar. 31, 2026 |
$ 249,652
|
|
|
|
|
|
|
|
|
| Increase (Decrease) in Temporary Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Conversion of redeemable convertible preferred stock and treasury stock into Series A common stock (in shares) |
(67,314,957)
|
|
|
|
|
|
|
|
|
| Conversion of redeemable convertible preferred stock into Series A Common Stock |
$ (249,652)
|
|
|
|
|
|
|
|
|
| Ending balance (in shares) at Jun. 30, 2026 |
0
|
|
|
|
|
|
|
|
|
| Ending balance at Jun. 30, 2026 |
$ 0
|
|
|
|
|
|
|
|
|
| Beginning balance (in shares) at Mar. 31, 2026 |
|
|
|
|
|
|
3,081,265
|
|
15,512,742
|
| Beginning balance at Mar. 31, 2026 |
(228,643)
|
|
36,249
|
(264,151)
|
(743)
|
|
$ 0
|
|
$ 2
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Stock based compensation |
1,038
|
|
1,038
|
|
|
|
|
|
|
| Foreign currency translation adjustments |
(76)
|
|
|
|
(76)
|
|
|
|
|
| Net loss |
(11,341)
|
|
|
(11,341)
|
|
|
|
|
|
| Conversion of redeemable convertible preferred stock into Series A Common Stock (in shares) |
|
|
|
|
|
|
67,314,957
|
|
|
| Conversion of redeemable convertible preferred stock into Series A Common Stock |
249,652
|
|
249,645
|
|
|
|
$ 7
|
|
|
| Issuance of common stock in connection with reverse recapitalization and PIPE Financing, net of issuance costs (in shares) |
|
|
|
|
|
|
21,114,279
|
|
|
| Issuance of common stock in connection with reverse recapitalization and PIPE Financing, net of issuance costs |
123,723
|
|
123,721
|
|
|
|
$ 2
|
|
|
| Reclassification of warrant liability for Series A Common Stock from equity |
(49,354)
|
|
(49,354)
|
|
|
|
|
|
|
| Ending balance (in shares) at Jun. 30, 2026 |
|
|
|
|
|
91,510,501
|
91,510,501
|
15,512,742
|
15,512,742
|
| Ending balance at Jun. 30, 2026 |
84,999
|
|
$ 361,299
|
$ (275,492)
|
$ (819)
|
|
$ 9
|
|
$ 2
|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] |
|
|
|
|
|
|
|
|
|
| Issuance of common stock in connection with reverse recapitalization and PIPE Financing, net of issuance costs (in shares) |
|
|
|
|
|
21,114,279
|
17,940,207
|
|
|
| Issuance of common stock in connection with reverse recapitalization and PIPE Financing, net of issuance costs |
$ 123,685
|
$ 90,624
|
|
|
|
|
|
|
|
| Ending balance (in shares) at Jun. 05, 2026 |
107,023,243
|
|
|
|
|
91,510,501
|
|
15,512,742
|
|